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Home My WebLink About10 of 2025 - Budget FY 2026 - Community Reinvestment Agency of Salt Lake CitySALT LAKE CITY COMMUNITY REINVESTMENT AGENCY RESOLUTION NO 10 of 2025 Adopting the Budget of the Salt Lake City Community Reinvestment Agency of Salt Lake City, Utah for Fiscal Year 2025-2026 A resolution of the Board of Directors of the Salt Lake City Community Reinvestment Agency of Salt Lake City, Utah adopting the budget for the fiscal year beginning July 1, 2025 and ending June 30, 2026. WHEREAS, the Salt Lake City Community Reinvestment Agency (“Agency”) was created to transact the business and exercise the powers provided for in the Community Reinvestment Agency Act; and WHEREAS, the Agency’s Board of Directors (“Board”) has determined it is both necessary and desirable to adopt the 2025-2026 annual budget (“Budget”); and WHEREAS, the Board has determined that the public improvements to be carried out with tax increment in each of the project areas will be of benefit to the project area which generated the tax increment; and WHEREAS, on May 6, 2025 the Board of Directors adopted the tentative budget by Resolution 7 of 2025 (“Tentative Budget”); and WHEREAS, at its May 20, 2025, and June 3, 2025 meetings, the Board held public hearings, at which interested persons in attendance or connected remotely were given an opportunity to be heard on the estimates of revenues and expenditures or any item in the Tentative Budget; and WHEREAS, the Tentative Budget adopted by the Board and all supporting schedules and data was a public record in the Office of the Salt Lake City Recorder, available for public inspection before the adoption of the Budget; and 2 WHEREAS, the Agency caused a copy of the Tentative Budget to be available before the public hearing in accordance with state law. NOW, THEREFORE, be it resolved by the Board of Directors of the Salt Lake City Community Reinvestment Agency, that the previously adopted Tentative Budget, as modified by the “Key Changes” attached and made a part of this Resolution, is adopted as the Budget of the Salt Lake City Community Reinvestment Agency for the fiscal year commencing on July 1, 2025 and ending June 30, 2026. BE IT FURTHER RESOLVED, that the following budget contingencies are hereby adopted with the Agency's 2025-2026 Budget: A.A copy of the Budget shall be certified and filed in the Office of the Salt Lake City Recorder whose permanent office is located at 451 South State Street, Room 415, Salt Lake City, Utah 84111 and be available to the public for inspection during regular business hours. B.A copy of the Budget shall be certified and filed with the Salt Lake County Auditor, the State Tax Commission, the State Auditor, the State Board of Education, and each taxing entity from which the Agency receives project area funds as required by Utah Code Section 17C-1-601.5(6) within 90 days after its adoption. C.This Resolution shall take effect on July 1, 2025. Passed by the Board of Directors of the Salt Lake City Community Reinvestment Agency, this 10th day of June, 2025. 3 ________________________________ Darin Mano, Chair The Executive Director: ____ does not request reconsideration ____ requests reconsideration at the next regular Agency meeting _________________________________ Erin Mendenhall, Executive Director Attest: _________________________ Keith Reynolds, City Recorder APPROVED AS TO FORM Office of the City Attorney Date:__________________ By:____________________ Mark Kittrell, City Attorney Jun 18, 2025 Darin Mano (Jun 24, 2025 15:06 MDT) Darin Mano Erin Mendenhall (Jun 24, 2025 15:29 MDT) 4 Item D1 CITY COUNCIL OF SALT LAKE CITY 451 SOUTH STATE STREET, ROOM 304 P.O. BOX 145476, SALT LAKE CITY, UTAH 84114-5476 www.slc.gov/council TEL 801-535-7600 FAX 801-535-7651 MOTION SHEET SALT LAKE CITY COMMUNITY REINVESTMENT AGENCY TO:CRA Board of Directors FROM:Jennifer Bruno, Executive Director DATE:June 10, 2025 RE: MOTION SHEET – Community Reinvestment Agency (CRA) FY2026 Budget MOTION 1 – TO ADOPT THE FY2026 CRA BUDGET I move that the Board adopt a resolution approving the Fiscal Year 2026 CRA Budget reflected in the attached Key Changes spreadsheet. MOTION 2 – NOT ADOPT I move that the Board proceed to the next agenda item. ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget 9233 Central Business District Revenue and Other Sources Tax Increment 27,265,707 -3,124,922 24,140,785 Interest from Investments 1,841,006 544,895 2,385,901 Transition Holding Account 786,303 -786,303 0 Total Revenues and Other Sources Budget 29,893,016 -3,366,330 26,526,686 Expenses and Other Uses Operations Programs Taxing Entity Payments 11,194,315 -354,426 10,839,889 TI Reimbursements 1,300,000 0 1,300,000 Internal Transfers - Debt Service 8,477,030 0 8,477,030 Property Management and Maintenance 1,127,250 2,318 1,129,568 Gallivan - Administration Assessment 385,447 38,727 424,174 Gallivan - Management & Maintenance Assessment 591,807 23,536 615,343 Gallivan - Programming 250,000 0 250,000 Internal Transfers - Administration Fund 2,726,570 -294,483 2,432,087 Capital Reserves Programs & Projects Captial Reserves Project - Gallivan - Maintenance & Repairs Program - {PRJ-000057 Gallivan Repairs} -250,000 -250,000 0 Captial Reserves Project - Gallivan - Planning Program - {PRJ- 000061 CRA - Gallivan Plaza Planning} -0 0 0 Captial Reserves Project - Infrastructure Improvements Program - {New Project: Japantown Construction Documents} -100,000 -100,000 0 Captial Reserves Project - Infrastructure Improvements Program - {New Project: Gallivan Playground} -500,000 -500,000 0 Captial Reserves Project - CRA Arts & Culture Program Program - {New Project: Japantown Art} -300,000 -300,000 0 Captial Reserves Project - CRA Arts & Culture Program Program - {New Project: CBD Public Art Project} -150,000 -150,000 0 Captial Reserves Project - Strategic Intervention Program - {New Project: Downtown for All} -{Holding Account}-2,540,597 -2,540,597 0 Capital Reserves Program: Commercial Revolving Loans - {Holding Account}-1,058,595 Total Expenditures and Other Uses Budget 29,893,016 -3,366,330 26,526,686 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9243 West Capitol Hill Revenue and Other Sources Interest from Investments 384,332 -384,332 0 Total Revenues and Other Sources Budget 384,332 -384,332 0 Expenses and Other Uses Capital Reserves Programs & Projects Captial Reserves Project - Housing Construction & Rehabilitation Program - {PRJ-000015 CRA - Arctic Court Infill Home Construction} -384,332 -384,332 0 Total Expenditures and Other Uses Budget 384,332 -384,332 0 COMMUNITY REINVESTMENT AGENCY KEY CHANGES Page 1 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 Page 2 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget 9234 Depot District Revenue and Other Sources Tax Increment 6,193,098 -6,193,098 0 Interest from Investments 480,304 -480,304 0 Transition Holding Account 421,999 -327,142 94,857 Total Revenues and Other Sources Budget 7,095,401 -7,000,544 94,857 Expenses and Other Uses Operations Programs Property Management and Maintenance 172,500 -122,500 50,000 Internal Transfers - Administration Fund 928,965 -928,965 0 Internal Transfers - Primary Housing Fund 1,238,620 -1,238,620 0 Charges & Services 50,000 Capital Reserves Programs & Projects Captial Reserves Project - Property Management and Maintenance Program - {PRJ-000064 CRA - Home Inn Rio Grande Maintenance} -500,000 -500,000 0 Capital Reserves Program: Commercial Assistance Reserves - {Holding Account}-500,000 -500,000 0 Capital Reserves Program: Infrastructure Improvements - {Holding Account}-3,705,316 -3,705,316 0 Captial Reserves Project - Infrastructure Improvements Program - {PRJ-000098 Depot District Infrastructure, Design, Construction, & Site Work}0 44,857 44,857 Total Expenditures and Other Uses Budget 7,095,401 -7,000,544 94,857 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9235 Granary District Revenue and Other Sources Tax Increment 1,384,433 340,696 1,725,129 Interest from Investments 198,730 -31,019 167,711 Transition Holding Account 165,086 59,265 224,351 Total Revenues and Other Sources Budget 1,748,249 368,942 2,117,191 Expenses and Other Uses Operations Programs Internal Transfers - Administration Fund 207,666 51,104 258,770 Internal Transfers - Primary Housing Fund 276,886 68,141 345,027 Charges & Services 0 50,000 50,000 Capital Reserves Programs & Projects Capital Reserves Program: Commercial Assistance Reserves - {Holding Account}-1,263,697 -1,263,697 0 Capital Reserves Program: Strategic Intervention -{Holding Account}-1,463,394 Total Expenditures and Other Uses Budget 1,748,249 368,942 2,117,191 Page 3 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9237 North Temple Revenue and Other Sources Tax Increment 1,543,745 572,119 2,115,864 Interest from Investments 158,829 -158,829 0 Transition Holding Account 249,892 -4,930 244,962 Total Revenues and Other Sources Budget 1,952,466 408,360 2,360,826 Expenses and Other Uses Operations Programs Charges & Services 50,000 0 50,000 Property Management and Maintenance 50,000 0 50,000 Internal Transfers - Administration Fund 231,561 85,820 317,381 Internal Transfers - Primary Housing Fund 308,749 114,424 423,173 Capital Reserves Programs & Projects Capital Reserves Program: Infrastructure Improvements - {Holding Account}- - Capital Reserves Program: Strategic Intervention -{Holding Account}-861,812 -179,071 682,741 Captial Reserves Project - Commercial Studies and Planning Program - {New Project: North Temple Property Reuse Planning} -300,000 -300,000 0 Capital Reserves Program: School Constructions Reserves - {Holding Account}-100,344 37,187 137,531 Captial Reserves Project - Infrastructure Improvements Program - {PRJ-000022 CRA - City Creek Daylighting Design Plan Budget} -50,000 50,000 100,000 Captial Reserves Project - CRA Arts & Culture Program - {New Project: North Temple Art Project} -0 100,000 100,000 Captial Reserves Project - Commercial Property Disposition - {New Project: Whipple Tenant Improvements}-0 500,000 500,000 Total Expenditures and Other Uses Budget 1,952,466 408,360 2,360,826 Page 4 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9232 Block 70 CRA Revenue and Other Sources Tax Increment 2,133,992 -26,267 2,107,725 Transfer From CBD Eccles Debt Service CRA match 3,311,921 670,518 3,982,439 Transfer from CBD Eccles Debt Service Reserve Account 454,142 -269,954 184,188 Transfer From CBD Taxing Entity Payments 5,165,109 -332,660 4,832,449 Total Revenues and Other Sources Budget 11,065,164 41,637 11,106,801 Expenses and Other Uses Operations Programs Eccles Debt Service 9,644,668 77,332 9,722,000 Taxing Entity Payments 560,173 -5,372 554,801 Capital Reserves Programs & Projects Captial Reserves Program: Regent Street Parking Structure Reserves -{Holding Account}-100,000 0 100,000 Captial Reserves Project - Eccles - Maintenance & Repairs Program - {PRJ-000085 Regent Street Maintenance} -80,000 0 80,000 Captial Reserves Project - CRA Arts & Culture Program Program - {PRJ-000082 Eccles Fundraising Fulfillment} -125,000 0 125,000 Captial Reserves Project - CRA Arts & Culture Program Program - {PRJ-000083 Eccles Theater- Operating Reserve for Ancillary Spaces} -475,000 25,000 500,000 Captial Reserves Project - CRA Arts & Culture Program Program - {PRJ-000081 Regent Street Event Programming} -25,000 0 25,000 Captial Reserves Project - CRA Arts & Culture Program Program - {New Project: Reinstallation of "The Gulls"} -55,323 -55,323 0 Total Expenditures and Other Uses Budget 11,065,164 41,637 11,106,801 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9238 North Temple Viaduct Revenue and Other Sources Tax Increment 3,119,790 -56,811 3,062,979 Interest from Investments 35,975 -35,975 0 Total Revenues and Other Sources Budget 3,155,765 -92,786 3,062,979 Expenses and Other Uses Operations Programs Internal Transfers - Administration Fund 46,796 -851 45,945 Salt Lake City Debt Service 3,108,969 -91,935 3,017,034 Total Expenditures and Other Uses Budget 3,155,765 -92,786 3,062,979 Page 5 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9239 Northwest Quadrant Revenue and Other Sources Tax Increment 2,500,109 835,285 3,335,394 Interest from Investments 103,889 -103,889 0 Transition Holding Account 0 141,651 141,651 Total Revenues and Other Sources Budget 2,603,998 873,047 3,477,045 Expenses and Other Uses Operations Programs TI Reimbursements 1,750,076 584,700 2,334,776 Internal Transfers - Administration Fund 250,011 83,528 333,539 Internal Transfers - Primary Housing Fund 250,011 83,528 333,539 Capital Reserves Programs & Projects Captial Reserves Program: Shared Costs Reserve -{Holding Account}-353,900 121,291 475,191 Total Expenditures and Other Uses Budget 2,603,998 873,047 3,477,045 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9240 Stadler Rail Revenue and Other Sources Tax Increment 161,151 13,086 174,237 Interest from Investments 7,593 -7,593 0 Transition Holding Account 0 3,354 3,354 Total Revenues and Other Sources Budget 168,744 8,847 177,591 Expenses and Other Uses Operations Programs TI Reimbursements 144,571 3,530 148,101 Internal Transfers - Administration Fund 8,058 654 8,712 Internal Transfers - Primary Housing Fund 16,115 1,309 17,424 Page 6 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Capital Reserves Programs & Projects Captial Reserves Program: Strategic Intervention Program - {Holding Account}-0 3,354 Total Expenditures and Other Uses Budget 168,744 8,847 177,591 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9241 State Street Revenue and Other Sources Tax Increment 5,868,859 2,792,341 8,661,200 Interest from Investments 0 278,092 278,092 Transition Holding Account 648,977 475,678 1,124,655 Total Revenues and Other Sources Budget 6,517,836 3,546,111 10,063,947 Expenses and Other Uses Operations Programs Charges & Services 50,000 0 50,000 Taxing Entity Payments 341,296 240,737 582,033 Property Management and Maintenance 50,000 50,000 100,000 Internal Transfers - Administration Fund 485,760 214,065 699,825 Internal Transfers - Primary Housing Fund 311,642 -51,806 259,836 Internal Transfers - School District Required Family & Workforce Housing 275,244 123,171 398,415 Internal Transfers - Secondary Housing Fund 1,000,000 -1,000,000 0 Capital Reserves Program: County Required Non-Loan Housing Funds -{Holding Account}-0 207,869 207,869 Capital Reserves Program: Internal Transfers - County Required Non-Loan Housing -{Holding Account}-0 1,870,819 1,870,819 Capital Reserves Programs & Projects Capital Reserves Program: Strategic Intervention -{Holding Account}-4,003,894 -2,408,744 1,595,150 Captial Reserves Project - Infrastructure Studies & Planning Program - {New Project: Public Utilities Feasibility Study}-0 100,000 100,000 Captial Reserves Project - Infrastructure Improvements Program -{New Project: State Street Infrastructure}-0 1,000,000 1,000,000 Captial Reserves Project - Infrastructure Improvements Program -{New Project: State Street Corridor}-0 150,000 150,000 Captial Reserves Project - Infrastructure Improvements Program -{New Project: Ballpark Management & Activation}-0 750,000 750,000 Captial Reserves Project - Infrastructure Improvements Program -{New Project: Ballpark Infrastructure, Design, Construction, & Site Work}-0 1,000,000 1,000,000 Captial Reserves Project - Infrastructure Improvements Program -{New Project: 900 S Freeway Underpass Infrastructure}-0 50,000 50,000 Captial Reserves Project - CRA Arts & Culture Program -{New Project: State Street Art Projects}-0 250,000 250,000 Capital Reserves Program: Commercial Revolving Loans - {Holding Account}-1,000,000 Total Expenditures and Other Uses Budget 6,517,836 3,546,111 10,063,947 Page 7 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9231 9-Line CRA Revenue and Other Sources Tax Increment 3,030,715 456,808 3,487,523 Interest from Investments 0 140,728 140,728 Transition Holding Account 276,503 190,696 467,199 Total Revenues and Other Sources Budget 3,307,218 788,232 4,095,450 Expenses and Other Uses Operations Programs Charges & Services 50,000 0 50,000 Page 8 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Taxing Entity Payments 345,968 -30,567 315,401 Property Management and Maintenance 50,000 50,000 100,000 Internal Transfers - Administration Fund 263,906 40,838 304,744 Internal Transfers - Primary Housing Fund 160,934 28,396 189,330 Internal Transfers - School District Required Family & Workforce Housing 142,138 17,285 159,423 Capital Reserves Programs & Projects Capital Reserves Program: Commercial Revolving Loans - {Holding Account}-0 500,000 500,000 Capital Reserves Program: Strategic Intervention -{Holding Account}-1,994,272 382,280 2,376,552 Captial Reserves Project - CRA Arts & Culture Program Program - {PRJ-000107 9-Line Public Art Project} -300,000 -200,000 100,000 Total Expenditures and Other Uses Budget 3,307,218 788,232 4,095,450 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9229 Block 67 CRA Revenue and Other Sources Tax Increment 365,771 11,571 377,342 Total Revenues and Other Sources Budget 365,771 11,571 377,342 Expenses and Other Uses Operations Programs TI Reimbursements 274,329 8,678 283,007 Internal Transfers - Administration Fund 18,288 580 18,868 Internal Transfers - Primary Housing Fund 36,577 1,157 37,734 Capital Reserves Programs & Projects Captial Reserves Project - CRA Arts & Culture Program Program - {PRJ-000108: Japantown Art} -36,577 1,156 37,733 Total Expenditures and Other Uses Budget 365,771 11,571 377,342 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9246 Revolving Loan Fund Revenue and Other Sources Loan Payments - Interest 80,400 19,600 100,000 Loan Payments - Principal 252,000 28,000 280,000 Interest from Investments 0 229,348 229,348 Transition Holding Account 0 2,488,247 2,488,247 Total Revenues and Other Sources Budget 332,400 2,765,195 3,097,595 Expenses and Other Uses Capital Reserves Programs & Projects Capital Reserves Program: Commercial Revolving Loans - {Holding Account}-332,400 2,765,195 3,097,595 Total Expenditures and Other Uses Budget 332,400 2,765,195 3,097,595 Page 9 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Budgeted revenues and other sources over (under) expenditures and other uses -229,348 229,348 0 9230 Program Income Fund Revenue and Other Sources Loan Payments - Interest 6,000 -5,000 1,000 Loan Payments - Principal 33,600 -23,600 10,000 Parking Structure Income 1,290,184 0 1,290,184 Page 10 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Rents 229,449 0 229,449 Interest from Investments 0 1,041,740 1,041,740 Transition Holding Account 0 1,388,986 1,388,986 Total Revenues and Other Sources Budget 1,559,233 2,402,126 3,961,359 Expenses and Other Uses Operations Programs Charges & Services 457,500 42,500 500,000 Operating & Maintenance 363,000 12,000 375,000 Internal Transfers - Administration Fund 0 1,803,299 1,803,299 Capital Reserves Programs & Projects Captial Reserves Project - Gallivan - Maintenance & Repairs Program - {PRJ-000057 Gallivan Repairs} -238,733 611,267 850,000 Captial Reserves Project - Infrastructure Improvements Program - {PRJ-000078 Sugar House DI Demolition} -500,000 -300,000 200,000 Captial Reserves Project - CRA Arts & Culture Program - {New Project: Sugar House Art} -0 25,000 25,000 Capital Reserves Program: Commercial Revolving Loans - {Holding Account}-0 208,060 208,060 Total Expenditures and Other Uses Budget 1,559,233 2,402,126 3,961,359 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9247 Secondary Housing Revenue and Other Sources Transfer In from Depot District 0 0 0 Transfer In from State Street 1,000,000 -1,000,000 0 Transition Holding Account 0 103,055 Total Revenues and Other Sources Budget 1,000,000 -896,945 103,055 Expenses and Other Uses Capital Reserves Programs & Projects Capital Reserves Program: Housing Development Loan Program - Competitive -{Holding Account}-1,000,000 -896,945 103,055 Total Expenditures and Other Uses Budget 1,000,000 -896,945 103,055 Budgeted revenues and other sources over (under) expenditures and other uses - 9245 Primary Housing Revenue and Other Sources Loan Payments - Interest 5,821 24,179 30,000 Loan Payments - Principal 72,000 -20,000 52,000 Interest from Investments 0 248,345 248,345 Transfer In from 9-Line 303,072 45,681 348,753 Transfer In from Block 67 North 36,577 1,157 37,734 Page 11 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Transfer In from Depot District 1,238,619 -1,238,619 0 Transfer In from Granary District 276,886 68,141 345,027 Transfer In from North Temple 308,749 114,424 423,173 Transfer In from Northwest Quadrant 250,011 83,528 333,539 Transfer In from Stadler Rail 16,115 1,309 17,424 Transfer In from State Street 586,885 279,235 866,120 Transition Holding Account 507,505 36,678 544,183 Total Revenues and Other Sources Budget 3,602,240 -355,942 3,246,298 Expenses and Other Uses Capital Reserves Programs & Projects Capital Reserves Program: Housing Development Loan Program - Competitive -{Holding Account}-2,684,859 -2,684,859 0 Capital Reserves Program: School District Required Family & Workforce Housing -{Holding Account}-417,381 140,457 557,838 Capital Reserves Program: County Required Non-Loan Housing - {Holding Account}-0 207,869 Captial Reserves Project - Housing Construction & Rehabilitation Program - {PRJ-000015 CRA - Arctic Court Infill Home Construction} -500,000 -500,000 0 Capital Reserves Program: Housing Development Loan Program - Deeply Affordable -{Holding Account}-0 2,480,591 2,480,591 Total Expenditures and Other Uses Budget 3,602,240 -355,942 3,246,298 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9248 Westside Community Initative Revenue and Other Sources Inland Port Housing 1,835,469 0 1,835,469 Transition Holding Account 0 133,581 133,581 Interest from Investments 0 100,186 100,186 Total Revenues and Other Sources Budget 1,835,469 233,767 2,069,236 Expenses and Other Uses Operations Programs Internal Transfers - Administration Fund 0 103,462 103,462 Capital Reserves Programs & Projects Capital Reserves Program: Strategic Intervention -{Holding Account}-1,000,000 -1,000,000 0 Capital Reserves Program: Wealth Building Housing Opportunities -{Holding Account}-835,469 -835,469 0 Capital Reserves Program: Housing Development Loan Program - Competitive -{Holding Account}-0 1,965,774 1,965,774 Page 12 ISSUE FY2025 Adopted Budget Full Time Equivalent Changes from FY2025 Budget FY2026 Budget Total Expenditures and Other Uses Budget 1,835,469 233,767 2,069,236 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9236 Housing Development Fund Revenue and Other Sources Funding Our Future 2,590,000 0 2,590,000 Interest from Investments 0 288,361 288,361 Loan Payments - Interest 108,000 4,000 112,000 Loan Payments - Principal 204,000 63,000 267,000 Transition Holding Account 0 384,481 384,481 Total Revenues and Other Sources Budget 2,902,000 739,842 3,641,842 Expenses and Other Uses Operations Programs Internal Transfers - Administration Fund 129,500 Capital Reserves Programs & Projects Capital Reserves Program: Housing Development Loan Program - Competitive -{Holding Account}-902,000 610,342 1,512,342 Capital Reserves Program: Wealth Building Housing Opportunities -{Holding Account}-2,000,000 -1,000,000 1,000,000 Captial Reserves Project - Housing Property Disposition Program - {New Project: Sugar House DI Disposition} - 0 1,000,000 1,000,000 Total Expenditures and Other Uses Budget 2,902,000 739,842 3,641,842 Budgeted revenues and other sources over (under) expenditures and other uses 0 0 0 9201 Community Reinvestment Agency Operations Revenue and Other Sources Transfer In from 9-Line 263,906 40,838 304,744 Page 13 *Adopted June 10, 2025* - CRA Resolution 10 of 2025 - Budget FY 2026 - CRA Final Audit Report 2025-06-25 Created:2025-06-18 By:DeeDee Robinson (deedee.robinson@slc.gov) Status:Signed Transaction ID:CBJCHBCAABAAcx055skFQh5db51vxAjtBARRKlIZQfvp "*Adopted June 10, 2025* - CRA Resolution 10 of 2025 - Budget FY 2026 - CRA" History Document created by DeeDee Robinson (deedee.robinson@slc.gov) 2025-06-18 - 10:37:51 PM GMT Document emailed to Mark Kittrell (mark.kittrell@slc.gov) for signature 2025-06-18 - 10:40:46 PM GMT Email viewed by Mark Kittrell (mark.kittrell@slc.gov) 2025-06-18 - 10:40:53 PM GMT Document e-signed by Mark Kittrell (mark.kittrell@slc.gov) Signature Date: 2025-06-19 - 2:49:01 AM GMT - Time Source: server Document emailed to darin.mano@slc.gov for signature 2025-06-19 - 2:49:03 AM GMT Email viewed by darin.mano@slc.gov 2025-06-24 - 4:35:38 PM GMT Signer darin.mano@slc.gov entered name at signing as Darin Mano 2025-06-24 - 9:06:49 PM GMT Document e-signed by Darin Mano (darin.mano@slc.gov) Signature Date: 2025-06-24 - 9:06:51 PM GMT - Time Source: server Document emailed to Erin Mendenhall (erin.mendenhall@slc.gov) for signature 2025-06-24 - 9:06:54 PM GMT Email viewed by Erin Mendenhall (erin.mendenhall@slc.gov) 2025-06-24 - 9:28:54 PM GMT Document e-signed by Erin Mendenhall (erin.mendenhall@slc.gov) Signature Date: 2025-06-24 - 9:29:05 PM GMT - Time Source: server Document emailed to Keith Reynolds (Keith.Reynolds@slc.gov) for signature 2025-06-24 - 9:29:08 PM GMT Email viewed by Keith Reynolds (Keith.Reynolds@slc.gov) 2025-06-25 - 2:35:31 PM GMT Document e-signed by Keith Reynolds (Keith.Reynolds@slc.gov) Signature Date: 2025-06-25 - 2:35:48 PM GMT - Time Source: server Agreement completed. 2025-06-25 - 2:35:48 PM GMT